Uranium One Mining Corp. (CSE: UUU) has announced the commencement of its inaugural exploration program at the approximately 90,000-hectare Yuty Prometeo–San Jose Uranium Project in Paraguay's Paraná Basin. The launch follows receipt of a Prospection Permit from Paraguay's Vice Ministry of Mining and Energy, marking a key regulatory milestone for the company. The program targets verification of historical uranium geochemical anomalies and identification of future drill targets, placing Uranium One within an established uranium exploration district in southeastern Paraguay. Investors may be watching closely given growing international attention to Paraguay's uranium sector.

Key Points

  • Uranium One Mining Corp. (CSE: UUU | OTCID: UUUFF | Frankfurt: SL51)
  • Inaugural exploration program now underway at the ~90,000-hectare Yuty Prometeo–San Jose Uranium Project in Paraguay's Paraná Basin
  • Prospection Permit received from Paraguay's Vice Ministry of Mining and Energy; program to include up to 100 rock or soil samples and field radiometric measurements
  • Investors may watch for results from geological reconnaissance, historical drill hole verification, and progress toward future drill target identification

Prospection Permit Clears Path for Uranium One's First Paraguay Field Program

Uranium One has received its Prospection Permit from Paraguay's Vice Ministry of Mining and Energy, enabling the company to formally commence exploration across its Yuty Prometeo–San Jose project. The release states the program is focused on verifying historical exploration data compiled by Anschutz Co., assessing previously identified uranium geochemical anomalies, and evaluating prospective areas to support future drill targeting. CEO David Greenway described the permit as a significant milestone, noting that the company is encouraged by the historical data and the project's location within the Paraná Basin.

Historical Drill Data and Geochemical Anomalies Underpin the Prometeo Concession

The Prometeo concession spans approximately 27,666 hectares and is directly contiguous to Uranium Energy Corp.'s Yuty Project. Historical records reference 27 drill holes averaging 165 metres in depth, with spectral gamma downhole logging indicating uranium in seven holes. Six of those seven holes reported anomalous uranium values of 0.01–0.02% U₃O₈, while one hole reported mineralisation of 0.05% to 0.10% U₃O₈ throughout its 107-metre length. The company cautions these are historical results that have not been independently verified under NI 43-101 and should not be relied upon without confirmatory drilling.

Planned Field Activities Include Radiometric Surveys and Systematic Sampling

The exploration program is designed to cover geological reconnaissance across priority blocks, assessment of access routes and logistics, historical drill hole verification, field radiometric measurements using a portable scintillometer, quarry and outcrop inspections, and the collection of up to 100 representative rock or soil samples. GPS georeferencing and photographic documentation will support geological interpretation. The San Jose concessions, spanning approximately 62,210 hectares, lie along the Upper Permian–Carboniferous contact, where a prior radiometric car survey delineated significant uranium anomalies across the properties.

U.S.–Paraguay Nuclear Cooperation Adds Broader Context for the Region

On October 21, 2026, the U.S. Department of State announced initiatives to deepen U.S.–Paraguay cooperation, including negotiations toward an agreement for peaceful uses of nuclear energy. The release notes that Uranium Energy Corp. separately announced a US$12 million investment in one of its own Paraguayan concessions. The company states these developments reflect growing international interest in Paraguay's uranium sector. Uranium One clarifies that UEC's announced investment does not involve the Yuty Prometeo–San Jose project, and that a nuclear cooperation agreement remains subject to negotiation and entry into force.